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LATEST NEWS & EVENTS Four in ten homeowners fear interest rate rises  As the residential property conveyancing sector gets a further boost from the Bank of England, new figures reveal homeowners could be in trouble from future interest rate rises. The bank's Monetary Policy Committee has once again decided to hold the base rate at 0.5 per cent. However, over four in ten (42 per cent) homeowners are worried about paying their mortgage should rates rise, according to moneysupermarket.com. The price comparison website notes that even a 0.5 per cent increase in the bank base rate will impact heavily on many mortgage holders. Kevin Mountford from the site said: "The danger is, when rates rise, which they will do sooner rather than later, many people will find they don't have the spare cash to fund the increases in their monthly payments." Meanwhile, housing charity Shelter is warning that homeowners could be taken off guard by higher interest rates, as one in four is unaware they are still at their historic, two-year low. "This research makes us extremely concerned that millions will be financially unprepared when interest rates go up and won't have plans in place to manage increased costs," commented Shelter chief executive Campbell Robb. Posted by Gaby Hamerton 
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